Renewable Energy Group, Inc. (REGI) Shares Bought by Metropolitan Life Insurance Co. NY

Metropolitan Life Insurance Co. NY boosted its stake in Renewable Energy Group, Inc. (NASDAQ:REGI) by 8.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,771 shares of the oil and gas company’s stock after buying an additional 2,486 shares during the period. Metropolitan Life Insurance Co. NY owned about 0.08% of Renewable Energy Group worth $332,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Oxford Asset Management purchased a new position in Renewable Energy Group during the first quarter valued at approximately $3,225,000. Acadian Asset Management LLC raised its position in Renewable Energy Group by 247.1% in the first quarter. Acadian Asset Management LLC now owns 253,504 shares of the oil and gas company’s stock valued at $2,649,000 after buying an additional 180,476 shares during the period. Los Angeles Capital Management & Equity Research Inc. raised its position in Renewable Energy Group by 312.2% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 216,296 shares of the oil and gas company’s stock valued at $2,260,000 after buying an additional 163,827 shares during the period. Bank of America Corp DE raised its position in Renewable Energy Group by 30.7% in the first quarter. Bank of America Corp DE now owns 582,061 shares of the oil and gas company’s stock valued at $6,083,000 after buying an additional 136,620 shares during the period. Finally, TIAA CREF Investment Management LLC raised its position in Renewable Energy Group by 49.9% in the first quarter. TIAA CREF Investment Management LLC now owns 311,362 shares of the oil and gas company’s stock valued at $3,254,000 after buying an additional 103,634 shares during the period.

Renewable Energy Group, Inc. (REGI) traded down 0.676% on Monday, hitting $11.025. The stock had a trading volume of 48,409 shares. Renewable Energy Group, Inc. has a 12-month low of $7.91 and a 12-month high of $13.39. The company’s 50 day moving average price is $12.18 and its 200-day moving average price is $10.87. The company’s market cap is $426.55 million.

Renewable Energy Group (NASDAQ:REGI) last released its earnings results on Thursday, August 3rd. The oil and gas company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by $0.13. Renewable Energy Group had a positive return on equity of 6.20% and a negative net margin of 0.36%. The firm had revenue of $535.10 million for the quarter, compared to the consensus estimate of $531.88 million. During the same period in the prior year, the business earned $0.18 EPS. The company’s quarterly revenue was down 4.2% on a year-over-year basis. Equities research analysts anticipate that Renewable Energy Group, Inc. will post ($1.56) EPS for the current year.

REGI has been the topic of several research analyst reports. Zacks Investment Research raised Renewable Energy Group from a “hold” rating to a “strong-buy” rating and set a $14.00 price target on the stock in a research report on Tuesday, May 9th. Canaccord Genuity raised Renewable Energy Group from a “hold” rating to a “buy” rating and lifted their price target for the stock from $11.00 to $16.00 in a research report on Friday, May 5th. Roth Capital set a $17.00 price target on Renewable Energy Group and gave the stock a “buy” rating in a research report on Wednesday, June 14th. Piper Jaffray Companies set a $13.00 price target on Renewable Energy Group and gave the stock a “hold” rating in a research report on Saturday, July 22nd. Finally, ValuEngine lowered Renewable Energy Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 8th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $15.00.

In related news, Director Christopher D. Sorrells purchased 5,000 shares of the company’s stock in a transaction dated Tuesday, May 30th. The shares were acquired at an average cost of $11.14 per share, for a total transaction of $55,700.00. Following the transaction, the director now owns 28,146 shares of the company’s stock, valued at $313,546.44. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Carlson Capital L. P sold 65,000 shares of the stock in a transaction that occurred on Monday, June 26th. The stock was sold at an average price of $12.83, for a total value of $833,950.00. The disclosure for this sale can be found here. 2.28% of the stock is currently owned by corporate insiders.

Renewable Energy Group Company Profile

Renewable Energy Group, Inc is focused on providing cleaner, lower carbon intensity products and services. The Company is a producer of biomass-based diesel in North America. Its segments include Biomass-based diesel, Services, Renewable Chemicals and Corporate and other activities. It is involved in various activities related to biomass-based diesel production, from acquiring feedstock, managing construction and operating biomass-based diesel production facilities to marketing, selling and distributing biomass-based diesel and its co-products.

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